Classic car auto insurance | Associate Engine

Why you are buying a vehicle is one of the main questions you need to be asking yourself. The make and model of a vehicle is probably unimportant for those of you that are only looking to drive back and forth each day.

All you want is reliability. It has to start when you turn the key in the ignition. It has to stop when you need it to. But many people buy a vehicle to make a statement about themselves. Whatever the make and model, it has an importance, a significance. For younger men, this may be something fast and sporty, expecting to attract young women. The same may apply to older men, of course. But there?s also a number of people who deliberately seek out older vehicles.

It can often be nostalgia to own an older vehicle as in their younger days many coveted these types of vehicles as they could never afford them. Now they are older and have the money, they can finally buy their dream. This can be a genuine collectible. A vehicle only produced in low numbers which have been further reduced by accidents and the passage of time ? not everyone cares for their vehicles. Or it may be something everyday like a Volkswagen Beetle ? a model that, in a way, has never really gone out of fashion. Then there are the people who want a cheap entry point to the luxury market. The price tag on a new BMW may simply produce a sharp intake of breath. But if you look at a 1990 BMW 325I, even a beautifully maintained car is not going to cost you more than $4,500. Should you go further up the model range to a 1999 BMW 7 Series Sedan, you will still find a good, clean car for $10,000. The same model today would cost you $70,000+ as a new purchase unless you can find a dealer offering a good discount.

So what does it cost to insurer older models? Well, first think about that sticker price. Unless you?ve just come into money and want to buy a collectible Ferrari, most older cars cost a lot less to replace. Although spares can sometimes be a problem and not all mechanics have the tools or the expertise to work on older technology, it can cost far less to repair or replace an older than a newer vehicle. This automatically means lower auto insurance quotes. Now add in those additional discounts. Most people who buy older vehicles are only going to drive them at weekends and on special occasions. There?s another vehicle for daily driving. This allows you to negotiate special terms so that the coverage is only available at specific times. There will, of course, be conditions about safe storage off-road. Which does raise the question of whether your homeowners policy will cover the loss of the vehicle if it?s lost in a fire. You need to talk this through with your auto insurance company to ensure you have the coverage. Remember not all insurers are comfortable with older, particularly collectible cars. So always get a full range of auto insurance quotes to find the companies with the best rates.

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